Zynex, Inc. (ZYXI) Prices 2.5M Share Common Offering at $22/Sh

Zynex, Inc. (NASDAQ: ZYXI) announced today the pricing of its previously announced underwritten public offering of an aggregate of 2,500,000 shares of its common stock at a public offering price of $22.00 per share. In the offering, 1,250,000 shares of common stock are being sold by Zynex and 1,250,000 shares of common stock are being sold by certain stockholders. In addition, Zynex and the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 187,500 shares and 187,500 shares of common stock, respectively, at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about July 17, 2020, subject to customary closing conditions.

The gross proceeds to Zynex from this offering are expected to be approximately $27.5 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Zynex, but excluding any exercise of the underwriters' option to purchase additional shares of common stock. Zynex intends to use the net proceeds from the offering to expand its sales force and marketing activities, launch its blood volume monitor, as well as for working capital and other general corporate purposes, including potential corporate, business or market development activities. Zynex will not receive any proceeds from the sale of the shares by the selling stockholders in the offering.

Piper Sandler & Co. is acting as sole book-running manager and B. Riley FBR, Inc., Ladenburg Thalmann & Co. Inc., H.C. Wainwright & Co. and Northland Capital Markets are acting as co-managers of the offering.

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